Taxation in Australia
A Matter of Trust
Validly executed distribution resolutions or minutes are critical to ensuring that the correct beneficiaries are entitled to trust distributions.
Every year, typically before 30 June, trustees execute distribution resolutions or prepare meeting minutes to ensure that the correct beneficiaries are presently entitled to the trust’s income and/or capital. A distribution resolution or meeting minute (hereinafter referred to as “distribution resolution”) serves as evidence that the trustee has paid, applied or set aside income and/or capital to one or more beneficiaries. Distribution resolutions must comply with the terms of the trust deed, the general law of trusts, and legislation.
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